Dense heavy crude, which oil refiners around the world favor for its typically low cost, is piling up in the Americas as soaring freight rates have stifled exports and US refiners have been running close to their limits. 

DUBAI, Oct 11 (Reuters) – The United States’ response to Iran’s seven conditions in a proposal to reopen the strategic Strait of Hormuz was “insufficient”, Iran’s security chief, Mohsen Rezaei, was quoted by state...